SMMDvsMSSMETF Comparison
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iShares Russell 2500 ETF (SMMD) and Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) belong to the same industry segment: US Multi-Factor. Both ETFs have the same top 3 sector exposures: Industrials, Information Technology and Financials. SMMD is less expensive with a Total Expense Ratio (TER) of 0.23%, versus 0.9% for MSSM. SMMD is up 12.9% year-to-date (YTD) with +$452M in YTD flows. MSSM performs worse with 12.8% YTD performance, and -$41M in YTD flows. Run a side-by-side ETF comparison of SMMD and MSSM below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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SMMD vs MSSM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SMMD MSSM | +13.09%+9.91% | +5.73%+5.26% | +12.90%+12.80% | +39.67%+40.13% | +64.18%n/a | +37.03%n/a |
| Flows | SMMD MSSM | +$108M-$35M | +$567M-$33M | +$452M-$41M | +$1.02B-$32M | +$1.61B- | +$2.08B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SMMD MSSM | +20.61%+20.29% | +17.53%+17.35% | +19.29%n/a | +20.93%n/a |
| Max drawdown | SMMD MSSM | -9.48%-9.62% | -9.48%-9.62% | -25.55%n/a | -28.20%n/a |
| Max drawdown duration | SMMD MSSM | 43d46d | 43d46d | 283dn/a | 980dn/a |
Trading data
SMMD | MSSM | |
Last sale 4/28/2026 at 3:19 PM | $83.31 | $56.52 |
| Previous close 04/27/2026 | $84.40 | $56.93 |
| Consolidated volume 04/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of March 31, 2026
1-year trailing difference
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MSSM
is actively managed and doesn’t replicate an indexSMMD | MSSM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 4/28/2026 at 3:19 PM
Live
Closed
SMMD | MSSM | |
|---|---|---|
| Last price | $83.31 | $56.52 |
| 1D performance | -1.30% | -0.73% |
| AuM | $2.97 B | $724.19 M |
| E/R | 0.23% | 0.9% |
Characteristics
SMMD | MSSM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | iShares | Morgan Stanley |
| Benchmark | Russell 2500 Index | - |
| N° of holdings | 2049 | 1902 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 6, 2017 | December 9, 2024 |
| ESG | No | No |
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Exposure
Countries
SMMD
USA
92.04%
Other
7.96%
MSSM
USA
79.68%
Other
20.32%
Sectors
SMMD
Industrials
18.13%
Information Techn.
13.44%
Financials
12.96%
Health Care
11.23%
Consumer Discreti.
9.7%
Other
34.54%
MSSM
Industrials
19.29%
Information Techn.
17.22%
Financials
11.21%
Health Care
9.3%
Consumer Discreti.
7.76%
Other
35.23%
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Diversification
SMMD
Total weight of top 15 holdings out of 15
8.25%
MSSM
Total weight of top 15 holdings out of 15
10.47%
Top 15 holdings
Data as of March 31, 2026
SMMD
US80004C2008
1.31%
CIENA
0.79%
LUMENTUM HOLDINGS
0.71%
COMFORT SYSTEMS USA
0.69%
US19247G1076
0.60%
INSMED
0.49%
EMCOR GROUP
0.47%
US7731211089
0.45%
BLOOM ENERGY CORP
0.42%
TAPESTRY INC
0.41%
TECHNIPFMC PLC
0.40%
JABIL CIRCUIT
0.40%
CASEYS GENERAL STORES
0.39%
UTD THERAPEUT
0.36%
CURTISS WRIGHT
0.36%
MSSM
COMFORT SYSTEMS USA
1.13%
TECHNIPFMC PLC
1.07%
US04351P1012
1.03%
CIENA
0.86%
VIASAT
0.80%
BLOOM ENERGY CORP
0.73%
ORMAT TECHNOLOGIES
0.59%
PLEXUS
0.57%
RESIDEO TECHNOLOGIES
0.56%
REGAL REXNORD CORP
0.55%
FABRINET
0.54%
TEXAS CAPITAL
0.54%
ITT
0.52%
CALIX NETWORKS
0.51%
PRIMORIS SERVICES
0.48%
Frequently asked questions about SMMD and MSSM
How have the SMMD and MSSM ETFs performed in 2026?
As of April 27, 2026, SMMD is up 12.9% year-to-date (YTD), while MSSM has returned 12.8%. That puts SMMD better performer ahead so far this year.
Which ETF is attracting more investor money: SMMD or MSSM?
Year-to-date, the SMMD ETF saw +$452M in flows, compared to -$41M for MSSM.
Which ETF is more volatile: SMMD or MSSM?
Over the past year, SMMD had a volatility of 17.53%, while MSSM experienced 17.35%.
Which ETF is bigger: SMMD or MSSM?
As of April 27, 2026, SMMD holds $2.97 B in assets under management (AUM), while MSSM manages $724.19 M.
What sectors do the SMMD and MSSM ETFs invest in?
SMMD leans toward sectors like Industrials, Information Technology and Financials. Meanwhile, MSSM focuses on Industrials, Information Technology and Financials.
What are the top holdings of the SMMD ETF and MSSM ETF?
SMMD top holdings include US80004C2008, CIENA and LUMENTUM HOLDINGS. MSSM holds in its top three: COMFORT SYSTEMS USA, TECHNIPFMC PLC and US04351P1012.
Which ETF is more diversified: SMMD or MSSM?
SMMD holds 2427 securities with 8.25% of its assets in the top 15. MSSM has 1949 securities and a top 15 weight of 10.47%.
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